Does it really make sense or is it another way to get your money?
Look at it this way - people are living longer and the fraction of people who require LTC is going up. Over 50% of people 65 or older will require LTC. Insurance companies know this, so to cover their liabilities, they have to charge very high premiums. And since the longevity of people goes up every year, it gets worse and worse for insurance companies to make LTCi profitable for them. This is why so many are getting out of the business.
So it looks to me like LTCi is of marginal utility just by the economics of the business model. And there are stories of policies being reduced in coverage, premiums raised, companies reluctant to pay up.
I told DW if I ever need LTC just take me out behind the barn and shoot me. She won't of course, but I really have little interest in vegetating away in some facility.